Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-15-2014, 01:00 AM
 
Location: Houston, TX
17,029 posts, read 30,929,122 times
Reputation: 16265

Advertisements

Buy a house as a place to live, not as part of your investment portfolio. When the time is right and you have the finances, jump in.
Reply With Quote Quick reply to this message

 
Old 07-15-2014, 06:11 AM
 
1,915 posts, read 3,241,580 times
Reputation: 1589
Quote:
Originally Posted by Oildog View Post
Buy a house as a place to live, not as part of your investment portfolio. When the time is right and you have the finances, jump in.
Agree with this statement, but let's say you did just that and then later get put on a 4 year assignment you can't refuse. Let's say you really like the area, the house meets your needs, and you will return to Houston after the assignment. What do you do? Sell now and take guaranteed profit or try to rent as investment while away so you are guaranteed a house when you return in an area you like?
Reply With Quote Quick reply to this message
 
Old 07-15-2014, 06:50 AM
 
467 posts, read 779,015 times
Reputation: 376
Really depends on rental rates, vacancy, PITI, cash flow, condition of the home, etc.
Reply With Quote Quick reply to this message
 
Old 07-17-2014, 01:05 PM
 
Location: Houston, TX
17,029 posts, read 30,929,122 times
Reputation: 16265
Quote:
Originally Posted by Htown2013 View Post
Agree with this statement, but let's say you did just that and then later get put on a 4 year assignment you can't refuse. Let's say you really like the area, the house meets your needs, and you will return to Houston after the assignment. What do you do? Sell now and take guaranteed profit or try to rent as investment while away so you are guaranteed a house when you return in an area you like?
Have been in that boat before. I sold to collect the profit, thinking things change in 4 years.
Reply With Quote Quick reply to this message
 
Old 07-17-2014, 10:38 PM
 
1,915 posts, read 3,241,580 times
Reputation: 1589
Quote:
Originally Posted by Oildog View Post
Have been in that boat before. I sold to collect the profit, thinking things change in 4 years.
How did that work out for you? Looking back and seeing how everything turned out, are you glad you sold?
Reply With Quote Quick reply to this message
 
Old 07-18-2014, 04:55 AM
ptt
 
497 posts, read 637,420 times
Reputation: 692
Quote:
Originally Posted by Htown2013 View Post
Agree with this statement, but let's say you did just that and then later get put on a 4 year assignment you can't refuse. Let's say you really like the area, the house meets your needs, and you will return to Houston after the assignment. What do you do? Sell now and take guaranteed profit or try to rent as investment while away so you are guaranteed a house when you return in an area you like?
I have been there. In 2010 We bought our dream home from oversea just over a month before my husband's job assigned us to moved to houston instead. Luckily, back in 2010 housing market wasn't as crazy as it is now we were able to buy a home we like, rent out the home we dreamt retire there one day. The home has 0 vacancy rate because of the location.

If we have to move oversea again i prefer to keep both homes.
Reply With Quote Quick reply to this message
 
Old 07-24-2014, 11:37 PM
 
Location: Houston, TX
17,029 posts, read 30,929,122 times
Reputation: 16265
It helped me move into bigger places. I have moved into transitional areas in the early-mid stages of redevelopment and it has served me well.

Place I sold just had apartments built a couple blocks away last year, so I feel better about it. Tough call.
Reply With Quote Quick reply to this message
 
Old 07-25-2014, 06:02 AM
 
6,720 posts, read 8,392,322 times
Reputation: 10409
We never regretted selling our homes when we moved from Houston and then came back. You never know where you will end up. Its hard to get good quality renters who keep your property as nice as you would.

The only way I would rent our current home out, is if we could never afford a replacement home in our preferred area. Our previous homes were standard and replaceable suburban homes. Our new one is close to the inner loop.
Reply With Quote Quick reply to this message
 
Old 07-26-2014, 12:44 PM
 
1,915 posts, read 3,241,580 times
Reputation: 1589
Quote:
Originally Posted by Oildog View Post
It helped me move into bigger places. I have moved into transitional areas in the early-mid stages of redevelopment and it has served me well.

Place I sold just had apartments built a couple blocks away last year, so I feel better about it. Tough call.
Understand, but could you have afforded to move back into a similar size and quality of place in the same area you sold? If yes, would you still be able to afford what you had before selling if your interest rate was 3+% higher when you returned? The damaging blow for my situation is the potential for much higher interest rates. That's the kicker.

I purchased a family house to raise my family long term in one of the few nicer suburbs in the region that's its own city, not unincorporated Houston ETJ. We have extended family in walking distance. Preserving that is priceless.

Last edited by Htown2013; 07-26-2014 at 12:54 PM..
Reply With Quote Quick reply to this message
 
Old 07-26-2014, 12:47 PM
 
1,915 posts, read 3,241,580 times
Reputation: 1589
Quote:
Originally Posted by Meyerland View Post
We never regretted selling our homes when we moved from Houston and then came back. You never know where you will end up. Its hard to get good quality renters who keep your property as nice as you would.

The only way I would rent our current home out, is if we could never afford a replacement home in our preferred area. Our previous homes were standard and replaceable suburban homes. Our new one is close to the inner loop.
Even if you are able to afford replacement home in preferred area, having to pay over $1000 more a month every mortgage payment for decades and waiting through months of bidding wars to get back in is annoying as heck.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston
View detailed profiles of:

All times are GMT -6. The time now is 10:01 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top